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12/03/25
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Los Angeles-based Arise Investments, in partnership with Innova Capital Group, has acquired Mountain View Plaza, a 26k sf, multi-tenant retail center in Phoenix, for $6 mil ($230/sf). The purchase marks Arises’ third acquisition in Arizona in 2025, and the privately-held company continues to seek additional opportunities throughout the state.
The property, located at 9812-9832 North 7th St, consists of multiple buildings situated on 2.5 acres of land at the corner of Mountain View Blvd and 7th St. The center is anchored by Burger King, VCA Animal Hospital, and local favorites Driftwoods Sports Grill and Scramble Restaurant.
“Along with Utah and Colorado, Arizona remains a core focus for our continuing growth,” said Danny Soroudi, Principal at Arise Investments. “With Mountain View Plaza, we’ve secured a high-quality asset in a well-established submarket, with a significant value-add component. We believe through proactive management and leasing, along with a planned renovation of the center, including façade enhancements and addressing several deferred maintenance issues, there is an opportunity to increase occupancy and rents across the board. This acquisition is envisioned as a long-term hold for our investors and shows our commitment to our growing Arizona portfolio.”
The deal closed at a reported cap rate of 7.22%. Arise has engaged the Bryan Gast Team at Velocity Retail Group to lead the leasing efforts at the property going forward.
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